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Top 10 Richest People In Asia In 2024

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Asia is home to some of the globe’s richest people, with fortunes built across a wide spectrum of industries, including technology, telecommunications, real estate, and e-commerce.

This article gives you a summary of the wealthiest people in Asia for 2024, according to Forbes India.

Mukesh Ambani (India, $113.5 billion)

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Mukesh Ambani chairs and manages Reliance Industries Limited, India’s most valuable company by market value, which operates in refining, petrochemicals, retail, and telecommunications. Forbes has consistently named Ambani as India’s wealthiest individual for the last decade.

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Gautam Adani (India, $85.7 billion)

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Gautam Adani leads the Adani Group, a $81 billion conglomerate involved in ports, airports, energy, and green projects. Since beginning as a trading firm in 1988, he has become one of Asia’s wealthiest individuals.

Adani has demonstrated his expertise as India’s leading airport operator and manager of Gujarat’s major Mundra Port. His strategic purchase of Holcim’s Indian assets in 2022 also elevated him to the position of India’s second-largest cement producer.

Prajogo Pangestu (Indonesia, $61.8 billion)

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Prajogo Pangestu, Indonesia’s wealthiest individual, made his fortune primarily in energy and petrochemicals. Starting with timber, his company, PT Barito Pacific, has expanded significantly into Indonesia’s plastics manufacturing, mining, and energy sectors.

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Pangestu’s wealth surged in 2023 with the initial public offerings of his companies, Petrindo Jaya Kreasi and Barito Renewables Energy, marking their entry into the stock market.

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Zhong Shanshan (China, $59.3 billion)

Zhong Shanshan, the founder of Nongfu Spring, a prominent bottled water company, is Asia’s third-richest person and the wealthiest in China. Nongfu Spring has grown to become one of China’s largest beverage companies, offering a wide array of products, including water, juice, and tea.

Colin Zheng Huang (China, $50.7 billion)

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Colin Huang, the founder of PDD Holdings (formerly Pinduoduo), a major Chinese e-commerce giant, still holds a substantial ownership stake of around 28% in the company despite stepping down as chairman. He has expanded his interests into online gaming with Xinyoudi and launched another e-commerce platform, Ouku.com.

Zhang Yiming (China, $43.4 billion)

Zhang Yiming, the visionary behind the Chinese tech giant ByteDance, is most renowned for creating the immensely popular app TikTok, which boasts over 1 billion users globally. As of March 2023, he holds a two percent stake in ByteDance.

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However, uncertainty looms over its value due to potential US bans on TikTok, following recent legislative actions granting the US government authority to pursue such measures. Apart from TikTok’s fame, ByteDance is involved in various sectors, including news, education, and gaming.

Savitri Jindal & family (India, $41.2 billion)

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Savitri Jindal, widow of founder Om Prakash Jindal, now chairs the Jindal Group, which encompasses steel, power, cement, and infrastructure sectors. Following OP Jindal’s passing, the group’s companies were divided among their sons and now operate independently.

Her son Sajjan Jindal, based in Mumbai, oversees the group’s most significant assets. Savitri Jindal not only ranks among Asia’s wealthiest individuals but also holds the distinction of being India’s richest woman. She continues her late husband’s legacy of community support through contributions to education, healthcare, and other sectors.

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Ma Huateng (China, $40.4 billion)

Ma Huateng, also known as Pony Ma, founded and chairs Tencent Holdings, a leading Chinese technology company. Beginning his career in the tech industry, Ma established Tencent in 1998. The company is renowned for its expertise in social media, e-commerce, and gaming.

Tadashi Yanai and Family (Japan, $36.8 billion)

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Tadashi Yanai is the founder and chairman of Fast Retailing, a prominent clothing company headquartered in Tokyo that owns Uniqlo stores. Fast Retailing also controls other brands such as Theory, Helmut Lang, J Brand, and GU. Uniqlo, its primary brand, operates over 2,400 stores in 25 countries, solidifying Tadashi’s position among Asia’s top 10 richest individuals.

Li Ka-shing (Hong Kong, $35.4 billion)

At the age of 21 in 1950, Li Ka-Shing launched Cheung Kong Plastics with $6,500 saved and borrowed from relatives, named after a river. His philanthropic efforts through the Li Ka Shing Foundation have been substantial, donating over $3.8 billion to various causes, particularly in Greater China.

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South Korea, Japan Protest China, Russia Aircraft Incursions

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South Korea and Japan reacted furiously on Wednesday after Chinese and Russian military aircraft conducted joint patrols around the two countries, with both Seoul and Tokyo scrambling jets.

South Korea said it had protested with representatives of China and Russia, while Japan said it had conveyed its “serious concerns” over national security.

According to Tokyo, two Russian Tu-95 nuclear-capable bombers on Tuesday flew from the Sea of Japan to rendezvous with two Chinese H-6 bombers in the East China Sea, then conducted a joint flight around the country.

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The incident comes as Japan is locked in a dispute with China over comments Prime Minister Sanae Takaichi made about Taiwan.

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The bombers’ joint flights were “clearly intended as a show of force against our nation, Defence Minister Shinjiro Koizumi wrote on X Wednesday.

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Top government spokesman Minoru Kihara said that Tokyo had “conveyed to both China and Russia our serious concerns over our national security through diplomatic channels”.

Seoul said Tuesday the Russian and Chinese warplanes entered its air defence zone and that a complaint had been lodged with the defence attaches of both countries in the South Korean capital.

Our military will continue to respond actively to the activities of neighbouring countries’ aircraft within the KADIZ in compliance with international law,” said Lee Kwang-suk, director general of the International Policy Bureau at Seoul’s defence ministry, referring to the Korea Air Defence Identification Zone.

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South Korea also said it deployed “fighter jets to take tactical measures in preparation for any contingencies” in response to the Chinese and Russian incursion into the KADIZ.

The planes were spotted before they entered the air defence identification zone, defined as a broader area in which countries police aircraft for security reasons but which does not constitute their airspace.

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Japan’s defence ministry also scrambled fighter jets to intercept the warplanes.

Beijing later Tuesday confirmed it had organised drills with Russia’s military according to “annual cooperation plans”.

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Moscow also described it as a routine exercise, saying it lasted eight hours and that some foreign fighter jets followed the Russian and Chinese aircraft.

Since 2019, China and Russia have regularly flown military aircraft into South Korea’s air defence zone without prior notice, citing joint exercises.

In November last year, Seoul scrambled jets as five Chinese and six Russian military planes flew through its air defence zone.

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Similar incidents occurred in June and December 2023, and in May and November 2022.

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Meanwhile, Tokyo said Monday it had scrambled jets in response to repeated takeoff and landing exercises involving fighter jets and military helicopters from China’s Liaoning aircraft carrier as it cruised in international waters near Japan.

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It also summoned Beijing’s ambassador after military aircraft from the Liaoning locked radar onto Japanese jets, the latest incident in the row ignited by Takaichi’s comments backing Taiwan.

Takaichi suggested last month that Japan would intervene militarily in any Chinese attack on the self-ruled island, which Beijing claims as its own and has not ruled out seizing by force.

AFP

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Thousands Reported To Have Fled DR Congo Fighting As M23 Closes On Key City

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Fierce fighting rocked the eastern Democratic Republic of Congo on Tuesday as the Rwanda-backed M23 militia rapidly advanced towards the strategic city of Uvira, with tens of thousands of people fleeing over the nearby border into Burundi, sources said.

The armed group and its Rwandan allies were just a few kilometres (miles) north of Uvira, security and military sources told AFP.

The renewed violence undermined a peace agreement brokered by US President Donald Trump that Kinshasa and Kigali signed less than a week ago, on December 4.

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Trump had boasted that the Rwanda-DRC conflict was one of eight he has ended since returning to power in America in January.

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With the new fighting, more than 30,000 people have fled the area around Uvira for Burundi in the space of a week, a UN source and a Burundian administrative source told AFP.

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The Burundian source told AFP on condition of anonymity he had recorded more than 8,000 daily arrivals over the past two days, and 30,000 arrivals in one week. A source in the UN refugee agency confirmed the figure.

The Rwanda-backed M23 offensive comes nearly a year after the group seized control of Goma and Bukavu, the two largest cities in eastern DRC, a strategic region rich in natural resources and plagued by conflict for 30 years.

Local people described a state of growing panic as bombardments struck the hills above Uvira, a city of several hundred thousand residents.

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Three bombs have just exploded in the hills. It’s every man for himself,” said one resident reached by telephone.

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We are all under the beds in Uvira — that’s the reality,” another resident said, while a representative of civil society who would not give their name described fighting on the city’s outskirts.

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Fighting was also reported in Runingo, another small locality some 20 kilometres (12 miles) from Uvira, as the M23 and the Rwandan army closed in.

Burundi views the prospect of Uvira falling to Rwanda-backed forces as an existential threat, given that it sits across Lake Tanganyika from Burundi’s economic capital Bujumbura.

The city is the main sizeable locality in the area yet to fall to the M23 and its capture would essentially cut off the zone from DRC control.

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Burundi deployed about 10,000 soldiers to eastern DRC in October 2023 as part of a military cooperation agreement, and security sources say reinforcements have since taken that presence to around 18,000 men.

The M23 and Rwandan forces launched their Uvira offensive on December 1.

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Rich in natural resources, eastern DRC has been choked by successive conflicts for around three decades.

Violence in the region intensified early this year when M23 fighters seized the key eastern city of Goma in January, followed by Bukavu, capital of South Kivu province, a few weeks later.

– Regional risk –

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The peace deal meant to quell the fighting was signed last Thursday in Washington by Congolese President Felix Tshisekedi and his Rwandan counterpart Paul Kagame, with Trump — who called it a “miracle” deal — also putting his signature to it.

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The agreement includes an economic component intended to secure US supplies of critical minerals present in the region, as America seeks to challenge China’s dominance in the sector.

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But even on the day of the signing, intense fighting took place in South Kivu, where Uvira is located, which included the bombing of houses and schools.

Witnesses and military sources in Uvira said that Congolese soldiers fleeing the fighting had arrived in the city overnight Monday and shops were looted at dawn.

Several hundred Congolese and Burundian soldiers had already fled to Burundi on Monday, according to military sources, since the M23 fighters embarked on their latest offensive from Kamanyola, some 70 kilometres north of Uvira.
Since the M23’s lightning offensive early this year, the front had largely stabilised over the past nine months.

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Burundian President Evariste Ndayishimiye warned in February there was a danger of the conflict escalating into a broader regional war, a fear echoed by the United Nations.

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‘Santa Claus’ Arrested For Possessing, Distributing Child Sexual Abuse Material

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A 64-year-old man from Hamilton Township has been arrested in the United States after investigators linked him to the possession and distribution of child sexual abuse material.

The suspect, identified as Mark Paulino, had been working as a “Santa for hire” at holiday events, a role that placed him in repeated contact with children.

Mercer County officials said the investigation began on 4 December when detectives were alerted to suspicious online activity involving the uploading of child pornography from a residence in Hamilton Township. The probe quickly identified Paulino, a retired elementary school teacher, as the person involved.

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Police stated that Paulino had presented himself online as a retired teacher and had recently performed as Santa Claus for photographs and private, corporate, and organisational events. “Because this role involved direct, repeated contact with children, detectives worked around the clock to secure a search warrant,” authorities explained.

The warrant was executed on 5 December, during which police seized multiple items regarded as evidentiary. Paulino was taken into custody without incident and charged with possession and distribution of child sexual abuse materials, as well as endangering the welfare of a child.

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Prosecutors have filed a motion to detain him pending trial. The investigation remains ongoing, and authorities have urged members of the public with relevant information to come forward.

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